Observations on economics, the academy, the wider world, and things that run on rails.

30.11.15

STOP CRYING WITH YOUR MOUTH FULL.

A '57 Chevy is a better looking car than a Toyota Camry (and didn't require the arch-deluxe Jan to sell it.) But in many ways the Camry is a more reliable platform, and cheaper.

[T]oday’s typical worker in America must work 1,123 hours – or 28 weeks – to earn enough income to buy a new, base-model Toyota Camry. Compared to 1957, two-and-a-half weeks less work is required today of an ordinary American worker to buy a popular new car – a popular new car that is nearly indescribably superior to a ’57 Chevy.

That is, if there is any such thing as a typical or ordinary worker anymore.